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Construction in Canada - Key Trends and Opportunities to 2025 (Q1 2021)

  • ID: 5314295
  • Report
  • April 2021
  • Region: Canada
  • 57 pages
  • GlobalData
1h Free Analyst Time

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Construction in Canada - Key Trends and Opportunities to 2025 (Q1 2021)

Summary

Following a decline of 3.4% in 2020, Canada's construction industry is now forecast to grow by 0.6% in 2021, up from the previous forecast of -2% in the Q4 2020 update, as activity in the housing market has been stronger than expected. Over the remainder of the forecast period, the industry is set to expand by 2.8%, supported by the government's efforts to accelerate its long-term infrastructure plan (the “Investing in Canada Plan”) and revive the economy. However, concerns over the slow pace of vaccine rollout and the spread of more transmissible variants of the virus pose major risks to the industry's outlook as they could further delay the recovery of the hardest-hit sectors, such as leisure and hospitality.

Canada's construction industry has been recovering faster than previously anticipated in recent months, bolstered by increasing investment in residential building construction. The country's housing market has been benefiting from record low interest rates, pent-up demand for new homes and the significant shift in remote work, even though the economy is still emerging from the steepest economic downturn since the Great Depression. According to Statistics Canada, activity in the residential construction market was 7% above its pre-pandemic levels in December 2020; this compared to lower performance in other segments, including repair construction (+5.1%), non-residential buildings (-11.2) and engineering and other construction activities (-12.8%).

While Canada's economy is expected to grow robustly this year, thanks to the government's ongoing provisions of large fiscal and monetary stimulus (which should continue to support domestic demand) and the rollout of vaccines (which has raised hopes that hard-hit sectors such as leisure and hospitality, offices and recreational buildings can recover quicker than expected), new COVID-19 variants that are spreading rapidly in provinces like Ontario pose an additional threat and may lead to a third wave and renewed or extended lockdown and travel restrictions across the country. If this comes to pass, this could slow both investment and the recovery of the construction industry in the first half of this year.

This report provides detailed market analysis, information, and insights into Canada's construction industry, including:
  • Canada's construction industry's growth prospects by market, project type and construction activity
  • Critical insight into the impact of industry trends and issues, as well as an analysis of key risks and opportunities in Canada's construction industry
  • Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.
Scope

This report provides a comprehensive analysis of the construction industry in Canada. It provides -
  • Historical (2016-2020) and forecast (2021-2025) valuations of the construction industry in Canada, featuring details of key growth drivers.
  • Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sector
  • Analysis of the mega-project pipeline, including breakdowns by development stage across all sectors, and projected spending on projects in the existing pipeline.
  • Listings of major projects, in addition to details of leading contractors and consultants
Reasons to Buy
  • Identify and evaluate market opportunities using the publisher's standardized valuation and forecasting methodologies.
  • Assess market growth potential at a micro-level with over 600 time-series data forecasts.
  • Understand the latest industry and market trends.
  • Formulate and validate strategy using the publisher's critical and actionable insight.
  • Assess business risks, including cost, regulatory and competitive pressures.
  • Evaluate competitive risk and success factors.
Note: Product cover images may vary from those shown
1 Executive Summary

2 Construction Industry: At-a-Glance

3 Context
3.1 Economic Performance
3.2 Political Environment and Policy
3.3 Demographics
3.4 COVID-19 Status

4 Construction Outlook
4.1 All Construction
  • Outlook
  • Latest News and Developments
  • Construction Projects Momentum Index
4.2 Commercial Construction
  • Outlook
  • Project Analytics
  • Latest News and Developments
4.3 Industrial Construction
  • Outlook
  • Project Analytics
  • Latest News and Developments
4.4 Infrastructure Construction
  • Outlook
  • Project Analytics
  • Latest News and Developments
4.5 Energy and Utilities Construction
  • Outlook
  • Project Analytics
  • Latest News and Developments
4.6 Institutional Construction
  • Outlook
  • Project Analytics
  • Latest News and Developments
4.7 Residential Construction
  • Outlook
  • Project Analytics
  • Latest News and Developments
5 Key Industry Participants
5.1 Contractors
5.2 Consultants

6 Construction Market Data

7 Appendix
7.1 What is this Report About?
7.2 Definitions
7.3 Construction
  • Contact the Publisher
List of Tables
  • Table 1: Construction Industry Key Data
  • Table 2: Canada, Key Economic Indicators
  • Table 3: Canada, Commercial Construction Output by Project Type (Real % Change), 2016-2025
  • Table 4: Canada, Top Commercial Construction Projects by Value
  • Table 5: Canada, Industrial Construction Output by Project Type (Real % Change), 2016-2025
  • Table 6: Canada, Top Industrial Construction Projects by Value
  • Table 7: Canada, Infrastructure Construction Output by Project Type (Real % Change), 2016-2025
  • Table 8: Canada, Top Infrastructure Construction Projects by Value
  • Table 9: Canada, Energy and Utilities Construction Output by Project Type (Real % Change), 2016-2025
  • Table 10: Canada, Top Energy and Utilities Construction Projects by Value
  • Table 11: Canada, Institutional Construction Output by Project Type (Real % Change), 2016-2025
  • Table 12: Canada, Top Institutional Construction Projects by Value
  • Table 13: Canada, Residential Construction Output by Project Type (Real % Change), 2016-2025
  • Table 14: Canada, Top Residential Construction Projects by Value
  • Table 15: Canada, Key Contractors
  • Table 16: Canada, Key Consultants
  • Table 17: Canada, Construction Output Value (Real, US$ Million)
  • Table 18: Canada, Construction Output Value (Nominal, CAD Million)
  • Table 19: Construction Market Definitions
List of Figures
  • Figure 1: G-10, Construction Output (Real % Change), 2020 and 2021
  • Figure 2: Canada, Construction Projects Pipeline by Sector (US$ Billion)
  • Figure 3: Canada, COVID-19 Confirmed Cases
  • Figure 4: Canada, Construction Output Value (Real, US$ billion, 2017 Prices and Exchange Rate), 2016-2025
  • Figure 5: Canada, Construction Output Value, by Sector (Real, US$ Million), 2016-2025
  • Figure 6: Canada, Construction Value-Add (CAD Million, 2012 Constant Prices), YoY % Change
  • Figure 7: Canada, Investments on Building Construction, in CAD Million, in Seasonally Adjusted Constant Prices, YoY % Change
  • Figure 8: Canada, Investments on Building Construction, in CAD Million, in Seasonally Adjusted Terms, YoY % Change
  • Figure 9: Canada, Construction Projects Momentum Index
  • Figure 10: Canada, Commercial Construction Output by Project Type (Real, US$ Million), 2016-2025
  • Figure 11: Canada, Commercial Construction Projects Pipeline, Value by Stage (US$ Million)
  • Figure 12: Canada, Investment on Commercial Building Construction, in CAD Million, in Seasonally Adjusted Constant Prices, YoY % Change
  • Figure 13: Canada, Value of Building Permits Issued for Commercial Buildings, in CAD Million, in Seasonally Adjusted Terms, YoY % Change
  • Figure 14: Canada, Non-Resident Tourist Arrivals, In Thousands, % Change YoY
  • Figure 15: Canada, Tourism Expenditure, in CAD Million, % Change YoY
  • Figure 16: Canada, Retail Trade Sales, in CAD Million, % Change YoY
  • Figure 17: Canada, Industrial Construction Output by Project Type (Real, US$ Million), 2016-2025
  • Figure 18: Canada, Industrial Construction Projects Pipeline, Value by Stage (US$ Million)
  • Figure 19: Canada, Investment in Industrial Buildings, in CAD Million, in Seasonally Adjusted Constant Prices, YoY % Change
  • Figure 20: Canada, Value of Industrial Building Permits Issued, in CAD Million, in Seasonally Adjusted Terms, YoY % Change
  • Figure 21: Canada, Manufacturing Value-Add (CAD Million, 2012 Constant Prices), % Change YoY
  • Figure 22: Canada, Sales Value of Goods Manufactured and New Orders of Manufacturing, in CAD Million, % Change YoY
  • Figure 23: Canada, Merchandise Exports, in CAD Million, % Change YoY
  • Figure 24: Canada, Infrastructure Construction Output by Project Type (Real, US$ Million), 2016-2025
  • Figure 25: Canada, Infrastructure Construction Projects Pipeline, Value by Stage (US$ Million)
  • Figure 26: Canada, Energy and Utilities Construction Output by Project Type (Real, US$ Million), 2016-2025
  • Figure 27: Canada, Energy and Utilities Construction Projects Pipeline, Value by Stage (US$ Million)
  • Figure 28: Canada, Capital expenditure in the Oil and Gas Extraction Industries, in CAD Million, In Seasonally Adjusted Terms, YoY % Change
  • Figure 29: Canada, Electric power generation, in GWh, YoY % Change
  • Figure 30: Canada, Production of Crude Oil and Other Equivalent Products, YoY % Change
  • Figure 31: Canada, Institutional Construction Output by Project Type (Real, US$ Million), 2016-2025
  • Figure 32: Canada, Institutional Construction Projects Pipeline, Value by Stage (US$ Million)
  • Figure 33: Canada, Investment on Institutional Building Construction, in CAD Million, in Seasonally Adjusted Terms, YoY % Change
  • Figure 34: Canada, Institutional Building Permits Issued, in CAD Million, % Change YoY
  • Figure 35: Canada, Residential Construction Output by Project Type (Real, US$ Million), 2016-2025
  • Figure 36: Canada, Residential Construction Projects Pipeline, Value by Stage (US$ Million)
  • Figure 37: Canada, Investment on Residential Building Construction, in CAD Million, in Seasonally Adjusted Terms, YoY % Change
  • Figure 38: Canada, Residential Building Permits Issued, in CAD Million, in Seasonally Adjusted Terms, YoY % Change
  • Figure 39: Canada, New Housing Price Index, 2016=100, % Change YoY
  • Figure 40: Canada, Housing Construction Started in Central Metropolitan Areas, % Change YoY
  • Figure 41: Canada, Headquarters of Key Contractors (% of Total Project Pipeline)
  • Figure 42: Canada, Headquarters of Key Consultants (% of Total Project Pipeline)
Note: Product cover images may vary from those shown

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